Resource Pack The Banking industry is central to our lives. it makes a significant contribution to the British economy. In association with: 2016 Banking is Britain s largest export industry, and is the largest contributor to the UK s trade surplus accounting for 45%. The UK is the world s biggest net exporter of financial services, exporting 62 billion of financial services in 2014. The banking industry contributed more than 31billion in tax in 2014. There are 511,000 banking jobs in the UK. This is equivalent to nearly 2% of the UK s total employment figures. But banking is much more than a set of impressive figures. Banking connects customers to opportunities, enabling businesses to thrive and economies to prosper. Provision of finance helps people fulfil their hopes and dreams and realise their ambitions. Although it is about money, banking is at its heart all about people and helping customers make the right financial decisions. Although many jobs are in London, jobs exist across the UK with five key cities - Birmingham, Bristol, Edinburgh, Leeds and Manchester - having a higher percentage of banking jobs than average. Indeed the number of banking jobs outside London has increased in the last few years whilst the number in London has reduced.
Resource Pack Banking can be broken down into the following types: Central banking These banks make sure our economy works properly and regulate things like interest rates by controlling the amount of money in circulation. Retail banking These are the banks you ll be most familiar with as the high street banks where we all keep our money. Commercial banking Commercial banks provide financial services to businesses, from small businesses to large corporations. Investment banking Investment bankers deal in shares and bonds and trade securities on financial markets. They also advise corporations on things like mergers. As banking is fundamentally about people and communication skills, the ability to work as part of a team and utilise problem solving skills are all important. It s not just about numbers! The banking industry is offering more and more options for school leavers to kick start a successful career.
Resource Pack How to get a job in banking A-levels and equivalent qualifications With the wide range of roles available across the banking industry there are a number of subjects that would be relevant to getting a job. Being good at numbers would be beneficial for many positions but not essential. The reality is that a large number of candidates who study maths, economics, science or finance find they have a solid basis to help them succeed in banking. Studying languages is also useful for expanding your job suitability globally. If you are sure that banking is for you the Institute of Financial Services University College (the London based university college for financial education and incorporated by Royal Charter) offers a series of A-level equivalent qualifications that can help you progress into higher education or into the world of work. These are designed for people aged 14-18. All their courses are provided online with on-demand examinations, meaning they are flexible and can fit in with your other activities. Find out more at www.ifslearning.ac.uk Get work experience Whatever job you go to and whatever career you start there is one thing that will help you beyond measure work experience.
Resource Pack Many people who currently work in banking didn t know they wanted to work in finance until they experienced it. Many banks provide work experience while you are at school, so check out the schemes they have on offer. Apprenticeships If the cost of a university education is putting you off, and you would rather take a practical workplace based approach, an apprenticeship could be perfect for you. With an apprenticeship you can earn while you learn directly after GCSEs or A-levels, working towards a qualification while starting a job. In banking specifically there are higher level apprenticeships available, allowing you to train for roles like branch manager or business/commercial relationship manager. Different apprenticeships will see you gaining different qualifications such as a recognised, degree-level professional qualification such as the Chartered Banker Diploma. The banking industry is fast developing more apprenticeship opportunities. In October 2015 six students at the IFS University College achieved the first Level 4 Higher Apprenticeships in banking. Completing a higher apprenticeship means you can progress to membership of the IFS School of Finance or the Chartered Banker Institute. This progression can lead to a specialist role in banking. It s also possible to enter a Higher Education course in a subject related to banking, insurance, or other financial services. Many top employers now offer great apprenticeship schemes for school and college leavers, such as HSBC who have opportunities in Commercial Banking, Retail Banking and Wealth Management, Global Banking and Markets and HSBC Operations, Services and Technology (HOST).
Resource Pack Lasting 12 to 18 months, these programmes are aimed at people who want to start a banking career but don t want to go to university. Having completed them the door s open to progress into management and leadership positions. Find out more about HsBc s programmes here http://www.hsbc.com/careers University If you plan to go to university you can get work experience in banking during the summer holidays. These opportunities are called internships. Besides being paid and getting an insight into different areas of banking a successful internship can be a stepping stone to being awarded a position on a bank s graduate programme. Most banks run internships and graduate programmes for their main business areas. Some banks run first year internships, which mean you have a number of opportunities to try out the sector. HSBC also runs a number of specific two-year graduate programmes in Commercial Banking, Retail Banking and Wealth Management, Global Banking and Markets, HSBC Operations Services, and HSBC Operations, Services and Technology (HOST).
Tips for getting a job Need some help getting started in banking? We asked the experts at HSBC for some top tips to help you get your dream banking job. Less finance more service Working in financial services is about working with and understanding our customers. If you cannot get work experience with a bank then try to work in retail or hospitality, where you will get the exposure to working with customers and start to build your relationship management skills. keep up to date with current and economic affairs in the news If you already have an interest in what s going on around us in the UK then this comes naturally to you. Pick up on the economic issues and banking news and think through the possible financial impact for customers financial needs. If you can understand the pros and cons, you will be able to work well with customers and help them make the right decisions for their needs. Should we stay in the EU? Will the Bank of England raise interest rates? What is the impact of the level of the savings compensation scheme being reduced? gain inside knowledge Find out what types of job opportunities there are financial services is amazingly diverse. If you know someone who works in the financial services sector ask to talk to them and prepare some interview style questions to understand what they do and how it feels in their world.
Tips for getting a job You can also look online and find out about companies - particularly look at their values and principles. See what kind of feel you get for the company. Best of all, what about putting your customer service skills into practice and visit a branch to ask the staff some questions? Do you have an enquiring mind? Financial services is about helping customers and finding the right solutions for their needs. It helps if you have an interest in how things work and what happens if interest rates rise. Think about the impact on your own life and those closest to you. It is good to ask questions, more questions and ask again. A fresh pair of eyes on any situation can add value, even to the experts. Plan ahead Financial service companies are large, complex organisations with a huge number of areas and often lots of different business strands retail, commercial, investment, overseas. Think about where you want to be in 5,10,20 years time. The breadth of opportunities within financial services make it a great starting point, and from there you can develop your skills and your career. Network with people at work and around you and ask questions. Most people are happy to give a little advice! LinkedIn is a great business tool to build your networks.
Apprentice Case Study In association with: i knew university wasn t for me. In my opinion qualifications and on-the-job experience are just as good as a degree and for me, this way of working seems practical. Shannon Business specialist @HsBc i didn t know that banks offered apprenticeships. To be honest I wasn t looking for this job, I stumbled across it online whilst looking for after-college options that didn t involve university. i ve always had an interest in business but i d never considered banking. I read the job spec carefully; I liked that it was working and studying, and it seemed like the right route in for me. The application process was fairly straightforward. I applied online, completed tests, has a phone interview and then came to London after making it to the final stage. i was over the moon when i was offered the place. It s one of those things you apply for and you never think you ll get, so I couldn t believe I made it through. i was so nervous when i started! It was my first experience of a big company, but as soon as I got into it I could tell I was in a good place. Everyone seemed really proud to work for the bank and that was really inspiring. The most important thing i learned as an apprentice is the power of your network. This is crucial to success. It s also my favourite bit as I love meeting people!
Career in BANKING - apprentice case study i also love my customers. I really enjoy helping people. For my customers, their businesses are everything to them. Knowing that you can help them feels great. The biggest challenge i ve faced is definitely my age. I was 18 when I started and I have had customers who are surprised. I m just not what they expect. As soon as I sit down with them and do my job, they re always reassured. i think it s brilliant HsBc offer this scheme. It gave me on-the-job experience and gave me the opportunity to get my qualifications I couldn t have asked for anything more. anyone thinking of joining as an apprentice? 100% do it! You get all the help and support you need. Career-wise, I don t think you could be in a better place. i love what i do. Every day at work is different and I enjoy every second of it. I m so grateful to HSBC for giving me this opportunity and I definitely see my long-term career here. Find out more about working at hsbc here: http://www.hsbc.com/careers
In association with: Thomas My current role is to manage the different stages of delivery for Windows servers, that are delivered to projects belonging to the retail & global banking market parts of HSBC. Windows server Delivery @HsBc What is it like to join HsBc as an apprentice? It was extremely exciting and a real privilege to know I had been selected out of so many applicants to work for such a global brand. I knew as soon as I turned up for my first day induction, that this company was going to look after me and provide me with the best training internally and externally to allow myself to grow into the person I am today! What s the best work thing you ve done since joining HsBc? Creating and scripting an automation tool that is being used in different countries! By learning my team s processes and how we function, I was able to come up with an idea to improve things and make repetitive tasks quicker or obsolete. I created a new tool to automate my team s work, by connecting TWO types of technologies to make a graphical user interface. This allows users to click on buttoned tasks they wanted to action and the scripting would execute remotely to systems removing the manual repetitive tasks. Where do you see yourself in five years time? My short term 5-year goal is to get into management of a team and then develop into a functional manager. Maybe later down the line I would like to become a Global Head of a Function or even look into becoming a Chief Operating Officer within the business! Find out more about working at hsbc here: www.hsbc.com/careers
More useful resources Need more help with your career choices? You can find a wealth of help and opportunities at the following places: www.hsbc.com/careers Information on careers opportunities available at HSBC. TM TheBigChoice.com student & graduate jobs TheBigchoice.com Find quality advice and opportunities in apprenticeships, part time jobs and training on this youth careers portal. school Leavers guide This interactive app guide brings together expert advice, guidance on career steps and positions from top employers on tablets and smartphones. national careers service The official place for careers advice and information in the UK. national apprenticeship service Everything you need on apprenticeships and the best vacancies on offer.